Global Arab Network | No Surprises - Syria Bottom of World Economic Forum Index

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No Surprises - Syria Bottom of World Economic Forum Index

Global Arab Network - - George Haddad

Sunday, 12 September 2010 11:03

Syria occupies 97th position in the index of Global Competitiveness Report 2010-2011, released by the World Economic Forum.

Global Arab Network has received the report saying, “Syria has stable macroeconomic environment, but still faces numerous challenges related to the inefficiency” and ability to offer better competitive atmosphere.

Several countries from the Middle East and North Africa region occupy the upper half of the rankings, led by Qatar (17th), Saudi Arabia (21st), United Arab Emirates (25th), Tunisia (32nd), Kuwait (35th) and Bahrain (37th), with most Gulf States continuing their upward trend of recent years.

Switzerland tops the overall rankings in the Global Competitiveness Report and Nordic countries continue to be well positioned in the ranking, with Sweden, Finland (7th) and Denmark (9th) among the top 10, and with Norway at 14th. Sweden overtakes the US and Singapore this year to be placed 2nd overall.

In another ranking, Syria occupied the last rank for the Arab countries in the index of Forbes magazine for the best countries in Doing Business, and was ranked 120 in the world.

Despite the economic progress in the last few years, Syria faces unprecedented challenges.

Poverty and unemployment in Syria reached a record high; some economists refer it to the inefficiency, bureaucracy and corruption in the business and governmental sectors.

Few figures are controlling most of the leading businesses in the country and taking advantages of lack of transparency especially when it comes to privatisation of some state-run sectors. Moreover, foreign and national investors are struggling to set up new projects.

While others blame nature’s factors, an UN official warns that Syria's drought is affecting food security and has pushed 2-3 million people into “extreme poverty”.

During a mission to Syria, Olivier de Schutter, UN special rapporteur on the right to food, said 1.3 million people had been affected by the four-year drought, 800,000 of whom had had their livelihoods devastated.

“The situation is really bad,” said Selly Muzammil, spokesperson for the World Food Programme (WFP) in Syria.

Failing to address these challenges, Syrian government places the country in the lowest ranking in the international indexes.

Global Arab Network

Photo source: National Kuwait forum

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